Which instrument is the most widely used one in international settlement?
A. cash
B. check
C. bill od exchage
D. promissory note
Which is the most secure way for the importer to make payment?
A. Letter of Credit
B. Cash in advance
C. Documentary collection
D. open account
Which of the following statements is not true?
A. Special endorsement carries the names of both endorsor and endorsee, but can be paid to the order of the endorsee.
B. With restrictive endorsement,the endorsee cannot transfer the draft to a third person.
C. Blank endorsement only carries the name of endorsee.
D. Sepcial endorsement is the most safe way to transfer drafts.
Negotiable instruments should not be
A. causative
B. non-causative
C. requisite in form
D. transferable
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